New research reveals that nearly half of U.S. states do not have requirements for sellers to disclose a property’s history of flood damages to a homebuyer.
flood insurance Archives - State of the Planet
As New York Gov. Andrew Cuomo acknowledged last Tuesday, “We have a new reality when it comes to these weather patterns; we have an old infrastructure, we have old systems. That is not a good combination.” This is exactly why the flood insurance market, as a tool for change, is of interest to the mayor’s office, and should be considered more widely by other coastal cities.